Parthenon Lowers stake in Abbott Laboratories (ABT)

Abbott Laboratories (ABT) : Parthenon reduced its stake in Abbott Laboratories by 1.03% during the most recent quarter end. The investment management company now holds a total of 48,552 shares of Abbott Laboratories which is valued at $2,120,266 after selling 507 shares in Abbott Laboratories , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Abbott Laboratories makes up approximately 0.52% of Parthenon’s portfolio.

Other Hedge Funds, Including , Seaward Management Limited Partnership reduced its stake in ABT by selling 4,670 shares or 1.57% in the most recent quarter. The Hedge Fund company now holds 292,602 shares of ABT which is valued at $12,777,929. Abbott Laboratories makes up approx 0.68% of Seaward Management Limited Partnership’s portfolio.Torch Wealth Management boosted its stake in ABT in the latest quarter, The investment management firm added 24,826 additional shares and now holds a total of 29,731 shares of Abbott Laboratories which is valued at $1,283,487. Abbott Laboratories makes up approx 0.91% of Torch Wealth Management’s portfolio.Rockland Trust Co boosted its stake in ABT in the latest quarter, The investment management firm added 9,562 additional shares and now holds a total of 69,882 shares of Abbott Laboratories which is valued at $3,016,806. Abbott Laboratories makes up approx 0.50% of Rockland Trust Co’s portfolio.Bath Savings Trust Co reduced its stake in ABT by selling 75 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 67,137 shares of ABT which is valued at $2,898,304. Abbott Laboratories makes up approx 0.89% of Bath Savings Trust Co’s portfolio.Murphy Capital Management Inc reduced its stake in ABT by selling 550 shares or 6.01% in the most recent quarter. The Hedge Fund company now holds 8,601 shares of ABT which is valued at $366,833. Abbott Laboratories makes up approx 0.06% of Murphy Capital Management Inc’s portfolio.

Abbott Laboratories opened for trading at $44.38 and hit $45.12 on the upside on Friday, eventually ending the session at $44.75, with a gain of 0.67% or 0.3 points. The heightened volatility saw the trading volume jump to 1,34,23,155 shares. Company has a market cap of $65,745 M.

On the company’s financial health, Abbott Laboratories reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.53. The company had revenue of $5333.00 million for the quarter, compared to analysts expectations of $5244.94 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on Abbott Laboratories. Abbott Laboratories was Upgraded by Edward Jones to ” Buy” on Jun 21, 2016.

Abbott Laboratories (Abbott) is engaged in the discovery development manufacture and sale of a range of health care products. Abbott operates in four business segments: Established Pharmaceutical Products Diagnostic Products Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products. The Diagnostic Products segment includes the sales of a line of adult and pediatric nutritional products. The Nutritional Products includes the sales of diagnostic systems and tests for blood banks hospitals commercial laboratories and alternate-care testing sites. The Vascular Products includes the sales of coronary endovascular structural heart vessel closure and other medical device products.

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